Smart Start
Parents aspire to provide their children with optimal opportunities from the outset. For this purpose, the SmartStart plan, available through RFG Coverage, offers a comprehensive solution. This program facilitates early savings for your child's college education, first home down payment, and retirement, all while ensuring the security of life insurance coverage.
The SmartStart plan safeguards your child's future by building a fund while securing their insurability, regardless of future circumstances. Combining life insurance coverage with a cash value savings component, the SmartStart policy offers a prudent beginning for your child's financial journey.
Why Do I Need SmartStart?
Saving for your child's future is challenging, but SmartStart simplifies the process. Beyond covering education costs, SmartStart's cash value is versatile. Whether your child needs a down payment for a home or seeks retirement income, funds from the policy are available for various life stages.
How Does The SmartStart Plan Work?
Start early by allocating a modest sum monthly or quarterly to aid your child in building savings while securing essential insurance coverage. Part of your premium serves to cover life insurance expenses, while the remainder contributes to the policy's tax-free accruing cash value.
Choose RFG To Help You Save For Your Child's Future!
SmartStart offers an intelligent option for your child's future; RFG Coverage is an intelligent choice for you.
Many insurance organizations and professionals focus solely on pushing their own products to earn commissions. At RFG Coverage, we reject the idea of one-size-fits-all solutions and do not sell proprietary products. Instead, we prioritize understanding your financial landscape, future aspirations, and budget to tailor a policy that suits you perfectly. Our dedication lies in sourcing insurance solutions that align with your goals, needs, and financial constraints, leveraging access to numerous carriers to achieve this.
Frequently Asked Questions
Q: What are the advantages of Universal Life Insurance?
Universal life insurance is popular for many reasons. Affordability. Universal life insurance costs less than whole-life insurance policies. No-lapse protection. Some types of life insurance may lapse if you don't pay the premium on time. With universal life insurance, your policy includes some protection against lapsing by using the accumulated cash value to keep the policy in-force. Tax-advantaged savings. The cash value component of your universal life insurance policy provides a guaranteed minimum interest rate and offers tax-deferred accumulation. Premium payment flexibility. As your needs change, your universal life insurance policy premium payments and death benefits can be adjusted. Loan and withdrawal features. You may be able to take out loans or withdrawals from the accumulated policy cash value when you need them, which may be an attractive alternative to borrowing from a financial institution.
Q: Can I afford Universal Life Insurance?
Premiums for universal life insurance policies are typically higher than term insurance, but less expensive than premiums for whole life insurance policies. The price you pay will depend on the face amount of the policy (the amount of the death benefit payable after your death), your age at the time you apply, and your overall health. If you are a non-smoker, your premiums will generally be less expensive than those paid by regular tobacco users. One of the biggest benefits of universal life insurance is the built-in flexibility when it comes to your premiums. If you experience a temporary financial hardship after your policy has been in force for a certain length of time and have sufficient cash value inside your policy, you may be able to rely on that cash value temporarily to help you keep the policy in force until you can afford to resume the full premium amount again.
Q: Do I qualify for Universal Life Insurance?
When you apply for any type of life insurance policy, you'll need to answer questions about your health, including any medical conditions you have been diagnosed with or treated for. You'll also be asked questions about your occupation and lifestyle. The insurance company evaluates this information in determining whether to approve your new insurance policy. Many universal life insurance policies are offered with limited underwriting requirements, meaning you may not need to complete a physical examination as part of the application process.
Q: When should I buy Universal Life Insurance?
Universal life insurance is a smart choice for people who want some flexibility with their life insurance policies. Because your premiums will be based on your attained age and health at the time you apply, there's no better time to apply than the present.
